ProShares Ultra Gold (UGL) — Stock Correlations & Overview
Over the past year, UGL has moved most closely with IAU, OUNZ, GLD. Explore the stocks most correlated and inversely correlated with UGL below, along with its price, financials, and company profile.
Stocks correlated with UGL
Correlation of daily returns. Higher positive values move with UGL; negative values move opposite it. Informational only, not investment advice.
Most correlated with UGL
| Symbol | Company | Correlation |
|---|---|---|
| IAU | iShares Gold TrustCOMMODITY CONTRACTS BROKERS & DEALERS | 1.00 |
| OUNZ | VanEck Merk Gold ETFCOMMODITY CONTRACTS BROKERS & DEALERS | 1.00 |
| GLD | SPDR Gold Trust, SPDR Gold SharesCOMMODITY CONTRACTS BROKERS & DEALERS | 1.00 |
| BAR | GraniteShares Gold SharesCOMMODITY CONTRACTS BROKERS & DEALERS | 1.00 |
| AAAU | Goldman Sachs Physical Gold ETF SharesCOMMODITY CONTRACTS BROKERS & DEALERS | 1.00 |
Most inversely correlated with UGL
| Symbol | Company | Correlation |
|---|---|---|
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.99 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.99 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.84 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.84 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.84 |
Frequently asked questions about UGL correlations
- Which stocks are most correlated with UGL?
- Based on one year of daily returns, the stocks most correlated with ProShares Ultra Gold (UGL) are IAU (1.00), OUNZ (1.00) and GLD (1.00). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with UGL?
- Over the past year, the stocks most inversely correlated with ProShares Ultra Gold (UGL) are GLL (-0.99), DULL (-0.99) and DUST (-0.84). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these UGL correlations calculated?
- We compute the correlation of daily returns between UGL and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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